Another gem from the friends of this website! We are extremely grateful to be able to get an electronic version of this important report. It sets out the privatisation that has taken place to date and for how much. In this report you will see the mining companies sold for $3m and the like. Very important for students who regularly ask for this. Equally interesting, you will see towards the back end of the report "companies under preparation". Among them is one we tweeted that it appears to be developing rapidly - National Airports Corporation. I hear stories of Lusaka International Airport being sold to the Chinese. Unfortunately the big elephants missing are the government papers - Daily Mail and The Times which are in serious debt. It appears again government has no proper objective criteria for what it chooses to privatise or retain.
Zambia Privatisation Status Report 2010 - ZDA
Thursday, 27 January 2011
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"Kansanshi Copper Mine was sold on
ReplyDeletecompetitive tender basis to Cyprus Amax of the USA.
The negotiated purchase consideration comprised cash at
close of US$ 3 million, conditions deferred cash of US$
million (Depends on the results of the feasibility studies)
and ZCCM retained interest of 20%. "
Now each year, kansanshi mining have benefits more than 1 b US $ !!!
And yesterday FQM announced that kansanshi will produce 60 % more copper !
The benefit will be around 2 b US $ each year loll
FQM announced too that the company will invest more than 1 b US$ in a new mine !.. but in one year, with the currents benefit, more than 50 % is zccm-ih's benefits !!
it is not FQM but it is ZCCM-IH who will invest in this mine.. but for FQM not for zccm !! lol
but FQM prefer use this money for their company not for the zambian holding !!
this situation is very dramatic for zambia but it seem that no one understand !
with its 500 M US$ ZCCM-IH could developp itself the new mine !!
but GRZ prefer give money to foreign groups... not for zambians !
why GRZ are happy with this situation ?
only for money for the futur election ?
Many of the tenders noted do not indicate the sale amounts. Is this intentional? What is being hidden?
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